Posts Tagged ‘gm trump’

GM has already invested $21 bil in its U.S. plants since 2010, adding 6,000 manufacturing jobs.

General Motors has confirmed widespread reports on Tuesday that it would invest another $1 billion in its U.S. manufacturing operations, but significantly increased the number of American jobs it plans to add.

The factory project will result in the creation or retention of 1,500 jobs, while another 450 jobs will be returned to the U.S. as GM transfers back production of axles from a plant in Mexico. In addition, the automaker will add 5,000 more jobs in finance and advanced technology “over the next few years,” it said in a Tuesday morning announcement.

Breaking News!

“As the U.S. manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners,” said GM Chairman and CEO Mary Barra. “The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value.”

CEO Mary Barra said last week that GM will not alter investments to please the new president.

General Motors is expected to announce a $1 billion investment in its U.S. factories on Tuesday, a move that will allow the nation’s largest automaker to create or retain about 1,000 American jobs, according to several sources. Specific details about where the investment will be targeted have not been disclosed yet.

The announcement will come exactly two weeks after President-elect Donald Trump threatened to impose a “big border tax” on GM for importing the hatchback version of its compact Chevrolet Cruze model from Mexico. And it follows other investment U.S. announcements made this month by cross-town rivals Ford Motor Co. and Fiat Chrysler Automobiles.

Setting the Record Straight!

But GM sources stressed that the new investment by the automaker was not driven by the incoming president’s threats – a position echoed by GM General Counsel Craig Glidden in a story by the Wall Street Journal.

Nissan is taking a “pragmatic” approach to dealing with a new president who may move to block automotive imports from Mexico, CEO Carlos Ghosn told TheDetroitBureau.com during a discussion at the annual Consumer Electronics Show in Las Vegas.

Ghosn’s comments came shortly after President-elect Donald Trump attacked Toyota in the latest in a series of tweets criticizing automakers who import vehicles into the U.S. from Mexico. That move sent the stock of the largest of the Japanese automakers tumbling. Nissan is the best-selling automaker in Mexico and has major assembly operations there supplying the U.S. and numerous other markets.

Beyond the Headlines!

“We are pragmatic,” said Ghosn, who also serves as CEO of Nissan’s French alliance partner Renault. “We will adapt.”

After spending much of his initial campaign taking shots at Ford Motor Co. for its plan to shift small car production to Mexico, President-Elect Donald Trump is now taking a poke at General Motors for importing the Chevrolet Cruze from a plant south of the border.

“Make in U.S.A. or pay big border tax,” the businessman-turned politician declared in a tweet, slamming GM for “sending Mexican-made model of Chevy Cruze to U.S. car dealers-tax free across border.” The president-elect has proposed dismantling or revising the North American Free Trade Agreement and hitting Mexican imports with as much as a 35% tariff – though he has notably made no public indication of plans to return production of his own clothing lines – some made in Mexico – back to the U.S.

Breaking News!

For its part, General Motors quickly responded to the Trump attack by noting that all of the Chevrolet Cruze sedans sold on the American market are produced in the U.S. A small number of Cruze hatchbacks recently began being imported from Mexico.